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Nov 30, 2012
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he has the opportunity to turn whatever package gets done into the obama growth plan or the obama deficit reduction plan and own it and embrace it, and he's not doing that. it is very typical of his leadership. >> the president feels that's why he was re-elected, because this is exactly what he's been running on, this program that he's now proposing here. >> as maria pointed out earlier, he was at $800 billion in revenue. we could with get to a deal quickly. >> why are we so focused on taxes and revenue? let's focus on spending cuts. what's your take on where to cut? seth, moments ago you said, you know, you can't put a knife to some of these entitlement programs. so what are we trying to do here? are we trying to get our arms around the debt and deficits? are we trying to create jobs? what's the goal of this whole charade? >> both. i wouldn't call it a charade. in the near-term, we're trying to keep this recovery going. that's why the payroll tax holiday extension is so needed and the small amount of new investments and unemployment insurance in the president's offer. that has to be bala
he has the opportunity to turn whatever package gets done into the obama growth plan or the obama deficit reduction plan and own it and embrace it, and he's not doing that. it is very typical of his leadership. >> the president feels that's why he was re-elected, because this is exactly what he's been running on, this program that he's now proposing here. >> as maria pointed out earlier, he was at $800 billion in revenue. we could with get to a deal quickly. >> why are we so...
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Nov 27, 2012
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. >> obama is going to a toy factory, correct, tomorrow? a toy factory during the holiday shopping season ahead of christmas. >> tomorrow he will be meeting with ceos including goldman sachs and some will meet with the president in person. the president is making the case that he is meeting with every constituency out there. >> thanks for that wrap up. do you think his assessment is right that the markets freaked out? >> i think in general if your catalyst is the u.s. government you should be generally freaking out. free market is not one that hangs on every whim and word of harry reid. at the end of the day there are multiple factors at work here. china hit a new low. we will talk about these things but i think it is multiple factors a at work beyond what somebody in washington says. >> this reminds me of when we had the european crisis or in 2008 when there was the vote on the tarp. i don't think we should overreact to this. if i learned anything from schoolhouse rock making a bill is like sausage making. you will have imaginations going
. >> obama is going to a toy factory, correct, tomorrow? a toy factory during the holiday shopping season ahead of christmas. >> tomorrow he will be meeting with ceos including goldman sachs and some will meet with the president in person. the president is making the case that he is meeting with every constituency out there. >> thanks for that wrap up. do you think his assessment is right that the markets freaked out? >> i think in general if your catalyst is the u.s....
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Nov 16, 2012
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what you have in certainty is the obama health care bill and investment income taxes. what that means for everybody is that you're better off realizing gains on any stocks. i think apple is falling a lot because people have very big gains, and they'd rather capture those gains today at a rate that's lower than they -- >> so you know there are people out there for example selling the high yielders and dividend stocks. >> we know is there's a lot of tax realization. those dividend stocks have appreciated a lot in the last couple of years. so you have tax management. >> dan, what would you do right now? are you going to buy or sell here? >> we're certainly on the more negative side of things. with respect to the topic of the dividend payers, you can see since the election the top quintile of dividend payers have done terribly in relation to the rest of the market. the relationship is from the bottom left to the top right. if you don't pay a dividend, you are doing much better than if you do. >> you also have much appreciation in that time frame. i think we're going to see
what you have in certainty is the obama health care bill and investment income taxes. what that means for everybody is that you're better off realizing gains on any stocks. i think apple is falling a lot because people have very big gains, and they'd rather capture those gains today at a rate that's lower than they -- >> so you know there are people out there for example selling the high yielders and dividend stocks. >> we know is there's a lot of tax realization. those dividend...
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Nov 30, 2012
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obama and mr. boehner? >> it depends on what the headlines are. so the president said the clear majority voted for a balanced approach. but there's a lot of debate about what that means. representative boehner i thought was much more into fighting words over there. listen to what he said. increasing the tax rates is the wrong approach to take. he said there was a stalemate in the talks with the white house. look at the dow industrials. we did move down around 25, 30 points as his comments came out. he said we're almost nowhere in the talks. sitting right near the lows for the day. if you look at the overall sectors that are moving today, pretty much balanced on either side. pretty much even on the balance-decline line. worries about higher taxes on dividend paying stocks seem to be -- >> lows for the day but not violent downstrokes here. >> i think the problem is we'll have trouble moving into positive territory at the close. a lot of concerns about headline risks over the weekend. we could be down 10, 15 on the s&p monday morning on something tha
obama and mr. boehner? >> it depends on what the headlines are. so the president said the clear majority voted for a balanced approach. but there's a lot of debate about what that means. representative boehner i thought was much more into fighting words over there. listen to what he said. increasing the tax rates is the wrong approach to take. he said there was a stalemate in the talks with the white house. look at the dow industrials. we did move down around 25, 30 points as his comments...
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Nov 30, 2012
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what's obama doing with this first offer, do you think? >> i'm not exactly sure because i don't understand the economic rationale behind it. look at the world that we are in. it is a 2% u.s. growth rate. it is not the 3% we are historically used to. look what's going on in europe. look what's going on in asia, the slowdown there. look at the context at which we want to take money out of the private sector. taxes by definition is contractionary. >> for a while i wondered in first term figured look, the president sooner or later will realize he needs jobs to get re-elected so will come onboard with pro-growth stuff and jobs he was able to, you know, to be re-elected at 7.9%. now you want a legacy that shows that you had a good economy and that you got the jobless rate down. so you are going -- i'm -- maybe there's just a disconnect between whether people that work for him really understand what generates economic growth and jobs and what doesn't. and -- i mean, we will transform society in a way that maybe is more positive for him, obama car
what's obama doing with this first offer, do you think? >> i'm not exactly sure because i don't understand the economic rationale behind it. look at the world that we are in. it is a 2% u.s. growth rate. it is not the 3% we are historically used to. look what's going on in europe. look what's going on in asia, the slowdown there. look at the context at which we want to take money out of the private sector. taxes by definition is contractionary. >> for a while i wondered in first...
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Nov 29, 2012
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geithner is president obama's lead negotiator in the budget talks. he'll first meet with harry reid at 10:00 followed by john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then he'll meet with house minority leader nancy pelosi. president obama is signaling he's flexible on where tax rate shoes go if the wealthiest americans. return to clinton era tax rates would have house holds playing between 36% to nearly 40%. the president met with a group of ceos wednesday. they offered support for resolving the fiscal cliff crisis with a proposal that includes higher taxes for those who make more than a quarter million dollars a year. >> at this point both sides have acknowledged that there is going to be revenue concessions and there will be entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in the business context as close as they are, i would say a deal would be in reach. >> interesting. bill ford jr. agrees with blankfei
geithner is president obama's lead negotiator in the budget talks. he'll first meet with harry reid at 10:00 followed by john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then he'll meet with house minority leader nancy pelosi. president obama is signaling he's flexible on where tax rate shoes go if the wealthiest americans. return to clinton era tax rates would have house holds playing between 36% to nearly 40%. the president met with a group of ceos...
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Nov 16, 2012
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. >>> and president obama meets with top u.s. lawmakers to begin budget talks as the fiscal cliff looms. both sides are digging in their heels on on tax hikes and spending hikes. against all of the political changes we're seeing today, first i want to show you the market action. stoxx 600 is sitting roughly flat, but we've seen interesting trading session where the nikkei really surging to the up side again today. more on that in a bit. take a look at what's happening across europe because after a couple of uglier days in the market, we're seeing something of a comeback now led by technology, retail stocks are also in the green, food and beverages, autos among the sectors dragging on the in-dek. we can take a closer look at the bourses. ibex is down. ftse 100 sam thing, so we'll keep an eye on all these levels as the show progresses this morning. the bond space is where we've been focusing our attention with spain and greece on. spain today seeing prices rise, yields coming down to 5.78%. italy seeing a bit of a rally, too. sello
. >>> and president obama meets with top u.s. lawmakers to begin budget talks as the fiscal cliff looms. both sides are digging in their heels on on tax hikes and spending hikes. against all of the political changes we're seeing today, first i want to show you the market action. stoxx 600 is sitting roughly flat, but we've seen interesting trading session where the nikkei really surging to the up side again today. more on that in a bit. take a look at what's happening across europe...
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Nov 30, 2012
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the top rate going to go up to 44%, including obama care. i think these two companies are going to offer great opportunities at these levels with their valuations to investors in a marketplace. >> what's very interesting, keith isn't with us but one thing i know he wanted to talk about was why he wasn't going to recommend buying guess even though they had a special dividend. that's a very interesting situation where a company's fundamentals may not be up to snuff. when does the special dividend get in the way or fool people into buying something they ought not be buying? >> i'll tell you one thing. i think over the next 6 to 12 months investors are not going to be so keen to get involved in companies that have these dividend because they know what they're going to get taxed on. you're going to see a rotation going into muni bonds. in the short term i think it will be a benefit to investors to have these companies. over the longer term they'll have to rethink in terms of the companies that are issue is these special dividend. >> thank you, ap
the top rate going to go up to 44%, including obama care. i think these two companies are going to offer great opportunities at these levels with their valuations to investors in a marketplace. >> what's very interesting, keith isn't with us but one thing i know he wanted to talk about was why he wasn't going to recommend buying guess even though they had a special dividend. that's a very interesting situation where a company's fundamentals may not be up to snuff. when does the special...
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Nov 29, 2012
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president obama hopeful that it can be reached before christmas. eam eamon has more on this. >> for the past few days i've been on air explaining why markets are wrong to react to the washington boilerplate headlines. that's washington boilerplate but we did get some comments here last night in washington with lloyd blank fein and john harwood on air that i think are significant and will move the needle here on this deal. take a look at how lloyd blankfein said president obama explained it last night. >> the president was, you know, gave us a lot of time. he and the staff went through a very detailed plan of what the plan was for balancing the budget. devil in the details. there was a lot of details, and i would say i think there was a lot -- it was very credible. >> now, the political significance here of the head of goldman sachs calling the president's plan very credible is probably great news for the white house. it gives them the type of political cover they were look for from the ceo meeting. if you're a neutral person who doesn't care what t
president obama hopeful that it can be reached before christmas. eam eamon has more on this. >> for the past few days i've been on air explaining why markets are wrong to react to the washington boilerplate headlines. that's washington boilerplate but we did get some comments here last night in washington with lloyd blank fein and john harwood on air that i think are significant and will move the needle here on this deal. take a look at how lloyd blankfein said president obama explained...
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Nov 27, 2012
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he's known boehner for years and believes the speaker wants to make a deal with president obama to avoid the fiscal cliff, but he's seen washington's dysfunction and has his doubts. >> he's somewhat just like the president. it's time to do ahead and do your job. >> speaker boehner is secure enough in his own district that his constituents will give him a free hand to negotiate. his bigger challenge is pulling together republicans from districts across the country behind any deal he ultimately strikes with president obama. >> carl, that's not just john boehner's job. it's also the job of eric cantor, the majority leader the on the democratic seed, harry reid and chuck schumer have to pull their flock behind any potential deal struck. that's not easy getting 60 votes the in the senate and the majority of the house. >> rangling cats on both sides, john. the president meeting with business executives at the white house, going to pennsylvania this week to visit a small business. all theater, or is there something bigger going on? >> he's trying to put pressure on the congress and generate mor
he's known boehner for years and believes the speaker wants to make a deal with president obama to avoid the fiscal cliff, but he's seen washington's dysfunction and has his doubts. >> he's somewhat just like the president. it's time to do ahead and do your job. >> speaker boehner is secure enough in his own district that his constituents will give him a free hand to negotiate. his bigger challenge is pulling together republicans from districts across the country behind any deal he...
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Nov 14, 2012
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he gives president obama the upper hand. but robert friedman who negotiates mna deals says republicans stand to be the winners. thank you so much for joining us. robert, is it smart negotiating by president obama to now double the amount he wants to raise in tax revenue? is this a scare tactic? >> i think it's brilliant negotiation, really, maria. i think as far as the art of negotiation, which is the topic you introduce, i think there are two keys. one is, do you have leverage over the other side? here it's uncertain who has leverage over whom. if to you don't have leverage, the issue is you got to make the other guy feel good. one way to make the other side feel good is to think that -- is to make the other side think you're giving them something. president obama starting at $1.6 trillion, he's got a lot to give. he's got a lot to make the republicans feel to make john boehner feel that he has put a lot on the table, that he's given up a lot and you ought to be happy because i came down from $1.6 trillion to, let's say, $1
he gives president obama the upper hand. but robert friedman who negotiates mna deals says republicans stand to be the winners. thank you so much for joining us. robert, is it smart negotiating by president obama to now double the amount he wants to raise in tax revenue? is this a scare tactic? >> i think it's brilliant negotiation, really, maria. i think as far as the art of negotiation, which is the topic you introduce, i think there are two keys. one is, do you have leverage over the...
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Nov 27, 2012
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meantime today president obama will be meeting with small business leaders. at issue of course is the series of tax increases and spending cuts that kick in at the end of the year if congress doesn't act. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> cnbc's raise above campaign continues. we're asking who has the courage to rise above partisan politics and find a solution. among our guests, three men who understand washington, wall street and corporate america very well. we have the chairman of president george w. bush's council of economic adviser, ed lazear, roger altman, and real estate tycoon don peebles. but let's cover this morning's top headlines. >>> we do have a lot in the corporate headlines this morning including equity residential and avalon bay communities agreeing to buy archstone from lehman brothers holdings. the price tag, about $6.5 billion in cash and stock. the deal gives lehman cash to help pay its creditors as it liquidates. but it paid $22 billion for this company originall
meantime today president obama will be meeting with small business leaders. at issue of course is the series of tax increases and spending cuts that kick in at the end of the year if congress doesn't act. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> cnbc's raise above campaign continues. we're asking who has the courage to rise above partisan politics and find a solution. among our guests, three men who understand...
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Nov 6, 2012
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>> been actually better under obama. in fact, millionaires are better off today than they were four years ago or at least there are more of them a study from wealth insight showed that the u.s. added more than 1 million nairs under obama. that's 1,000 millionaires a day, or 40 millionaires an hour. now, in total there are now more than 5 million nairs in the u.s., 19 trillion in total wealth. the u.s. added more millionaires in obama's first three years than george busch created in his eight years. the obama gains are on par roughly clinton's second term, that was the big bull market earthquake the dot com boom. stock markets dried most of the growth decline in millionaires, the market rebounded in 2009 and 2010 gave us all those new millionaires, so, millionaires have done well under obama but as one of my readers wrote to me, brian, bernanke did more to create millionaires than barack obama. >> pretty much like dropping those million dollar -- >> it has. >> dollars from the sky, right? >> in order to take advantage of
>> been actually better under obama. in fact, millionaires are better off today than they were four years ago or at least there are more of them a study from wealth insight showed that the u.s. added more than 1 million nairs under obama. that's 1,000 millionaires a day, or 40 millionaires an hour. now, in total there are now more than 5 million nairs in the u.s., 19 trillion in total wealth. the u.s. added more millionaires in obama's first three years than george busch created in his...
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Nov 15, 2012
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i don't remember people saying e o', look at the market, how wonderful obama must be. secondly, i think what you're seeing now is an artificial depression in the market because of the uncertainty. i believe that it does not reflect an erosion in fundamentals. in fact, i think the economy has been doing reasonably well, particularly our economy compared to some of the rest of the world. there's some uncertainty about europe. it is important for us to deal with the tax and sequestration issues. i believe that once we have done those, this drop will come back up. that is, i think this is an understandable reaction to the uncertainty, not a serious sign of a decline in the economy. >> absolutely. you're absolutely right. i think it's all about this uncertainty about where tax rates will be. what are the odds we're going to see a deal before year end to give this market and the investor class out there some clarity on where their tax rates will be in 2013? what do you think? >> i have no basis to set that on, maria. i'm going to be saying things that people might take into
i don't remember people saying e o', look at the market, how wonderful obama must be. secondly, i think what you're seeing now is an artificial depression in the market because of the uncertainty. i believe that it does not reflect an erosion in fundamentals. in fact, i think the economy has been doing reasonably well, particularly our economy compared to some of the rest of the world. there's some uncertainty about europe. it is important for us to deal with the tax and sequestration issues. i...
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Nov 7, 2012
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and the obama camp spent slightly more than romney's. but can enjoy the spoils of victory, at least for tonight. romney and obama campaigns burnt through a combined total of $30 a second. $2.6 million a day. and $79 million a month during this election cycle. and a lot of that money would have flowed from wall street, but on election day, that particular district of lower manhattan is actually less important than ever. that's john carney's take. if you want to respond to that or anything else you've heard on the program, you know how. e-mail us, you can also tweet that guy. >> $79 million a month. i'm guessing that's over a two-year period? >> i guess it also works out to $400 per voter, if you assume that everyone were to turn out. so for the turnout itself, that would be an even higher tally. >> and we ended up with the status quo for all that money spent. i suppose that's one way of looking at it. >>> we just showed this. european stocks have a mild risk-on view today. there's a view now. of course, the fed won't be changing its polic
and the obama camp spent slightly more than romney's. but can enjoy the spoils of victory, at least for tonight. romney and obama campaigns burnt through a combined total of $30 a second. $2.6 million a day. and $79 million a month during this election cycle. and a lot of that money would have flowed from wall street, but on election day, that particular district of lower manhattan is actually less important than ever. that's john carney's take. if you want to respond to that or anything else...
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Nov 6, 2012
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president obama has not done that. we have been kicking the can down the road on taxes, regulation, uncertainty on health care expenses and so i think with a romney administration what you will end up with is a solid four-year plan where american businesses can get back to doing what they do well which is allocating capital based on what they know costs to be. that's been the big problem in the last four years. unknowable costs lead to labor uncertainty. that's why we don't have the job growth. >> i want to read you something alan greenspan said. we are trying to do this -- solving the deficit problem and also the fiscal cliff -- without pain. there is no credible scenario in which that happens. you can put spending, entitlements, revenues, all of it on the table under that umbrella. are we going to get a deal on that? >> we have to. chairman greenspan is reflecting what a majority of the country feels about the inaction and some say incompetence in washington on that matter. anthony talked about the longer term deal t
president obama has not done that. we have been kicking the can down the road on taxes, regulation, uncertainty on health care expenses and so i think with a romney administration what you will end up with is a solid four-year plan where american businesses can get back to doing what they do well which is allocating capital based on what they know costs to be. that's been the big problem in the last four years. unknowable costs lead to labor uncertainty. that's why we don't have the job growth....
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Nov 14, 2012
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this afternoon, president obama held his first news conference since being re-elected. he then met with business leaders to talk about the fiscal cliff, which of course was a big topic at news conference. this question and answer was significant. listen to this. >> you said that the wealthiest must pay more. would closing loopholes instead of raising rates for them satisfy you? >> i think there are loopholes that can be closed and we should look at how we can make the process of deductions, the filing process easier, simpler, but when it comes to the top 2%, what i'm not going to do is to extend further a tax cut for folks who don't need it. >> well, that means that the president seems to want to raise tax rates and remove deductions regardless. so what does the top man at one of the biggest and most successful private equity companies think about that? he's here to talk about it. george roberts is the cofounder and co-chief executive of kkr. so nice to have you on the program. >> thank you. >> thank you so much for joining us. what's your take on that? when you hear th
this afternoon, president obama held his first news conference since being re-elected. he then met with business leaders to talk about the fiscal cliff, which of course was a big topic at news conference. this question and answer was significant. listen to this. >> you said that the wealthiest must pay more. would closing loopholes instead of raising rates for them satisfy you? >> i think there are loopholes that can be closed and we should look at how we can make the process of...
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Nov 15, 2012
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the two, of course, chaired president obama's debt commission. two years ago when the plan was presented, it was all but ignored by those in power. joining me now, the two architects behind the plan, former republican senator alan simpson and former chief of staff for democratic president bill clinton erskine bowles. gentlemen, wonderful to have you on the program. i want to first get to this. have either of you or together both of you been asked to participate in any way in these fiscal cliff negotiations? >> i've talked to most of the members of the white house. i met over the last couple of days with what's called the gang of eight, four republican senators and four democrat senators. i'm going to update alan as soon as this ends. >> senator, you have not been involved in these talks so far. >> he's an hour away. i'm all day away. i live in wyoming. today we're 2 1/2 hours late getting out of denver. i have to get my good threads on later. erskine is the numbers guy. he's done this before. he's the last human being on earth to balance the budg
the two, of course, chaired president obama's debt commission. two years ago when the plan was presented, it was all but ignored by those in power. joining me now, the two architects behind the plan, former republican senator alan simpson and former chief of staff for democratic president bill clinton erskine bowles. gentlemen, wonderful to have you on the program. i want to first get to this. have either of you or together both of you been asked to participate in any way in these fiscal cliff...
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Nov 29, 2012
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i'm hoping obama is coming to be a great president, which has come to the center. he inherited a bad economy. there's no doubt, right? but we haven't made a lot of progress. we haven't given business a lot of confidence. we have $1 trillion -- >> antagonistic with business. >> we would call it antagonistic. a lot of listening but not a lot of hearing. i'm supposed to go -- i won't say that. >> you're going to go to the white house. >> maybe. >> why would you go to the white house? you think he's listening? all these photo ops with all these ceos. >> do i have to answer this? >> what are they doing? why go? >> because he's the president of the united states. it is the white house. in the case, you can make an impact, you should do it. >> but that's the question. can you make an impact? >> at the moment, it looks like not. again, i said this recently at another conference. if you're a ceo, you're going to get your constituents in a room and not leave. you're not going to get in a plane, bring people in to antagonize the other side as rerecently did. you're going to s
i'm hoping obama is coming to be a great president, which has come to the center. he inherited a bad economy. there's no doubt, right? but we haven't made a lot of progress. we haven't given business a lot of confidence. we have $1 trillion -- >> antagonistic with business. >> we would call it antagonistic. a lot of listening but not a lot of hearing. i'm supposed to go -- i won't say that. >> you're going to go to the white house. >> maybe. >> why would you go to...
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Nov 5, 2012
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president obama or mitt romney. we ask td ameritrade ceo who has the pulse on what individual investors think. >>> we all know that this is going to be the most expensive presidential election, ever. but you really are not going to believe how much is spent per second for your vote. we're also expected to here hear about a revolutionary way to fight high cholesterol. listen up if you have it. t we have the big unveil covered. "street signs" at the top of the hour. back to you on "power lunch." >>> president obama and governor romney are sprinting through those key battleground states on the last day of campaigning. president and ceo of the national urban league is here, the former mayor of new orleans. he joins us, as does the founder and ceo of christie strategies and former special assistant to george w. bush. welcome, gentlemen. this one is going to be a squeaker. ron, i'll start with you. tell me why you think mr. romney will prevail. >> i'm cautiously optimistic. i think governor romney for the last several wee
president obama or mitt romney. we ask td ameritrade ceo who has the pulse on what individual investors think. >>> we all know that this is going to be the most expensive presidential election, ever. but you really are not going to believe how much is spent per second for your vote. we're also expected to here hear about a revolutionary way to fight high cholesterol. listen up if you have it. t we have the big unveil covered. "street signs" at the top of the hour. back to you...
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Nov 2, 2012
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the obama administration eliminated that. they've changed the rules and that has allowed many, many people in. a big example i'd like to look at is unmarried people. for some strange reason, unmarried people have fallen much farther below unemployment than married people. they have a lot better access to these programs. >> have the work requirements been removed, casey? is that a problem? the work requirements? is it too easy to go on safety net programs? >> that would be one of a dozen things that has happened. that's one of the factors. >> may i respectfully interject here? i don't know what professor mulligan is talking about. there's still three people looking for every job opening. when you have three people looking for every job opening you want to have safety nets there for people. it's not only fogood for the people but puts money in their pockets to buy things and keeps other people employed. this is economics 101. >> now there are millions of people who can make just as much by not working. that's a bad situation. >
the obama administration eliminated that. they've changed the rules and that has allowed many, many people in. a big example i'd like to look at is unmarried people. for some strange reason, unmarried people have fallen much farther below unemployment than married people. they have a lot better access to these programs. >> have the work requirements been removed, casey? is that a problem? the work requirements? is it too easy to go on safety net programs? >> that would be one of a...
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Nov 7, 2012
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obama won. now, you're going to have to reconcile that in order to get anything done. >> we've got to go to ohio because, you know, here we are hearing that the romney campaign is contesting this. this win out of ohio. >> not conceding. >> not conceding, not conceding, pardon me. let's get to scott cohn, live, i want to get the flavor live on the ground in ohio. scott, what can you tell us? >> reporter: first of all when ohio is the state that put romney over the top as many suggested, you get the reaction from the very pro-obama crowd here. but let me take you through what the issue is with ohio and why, perhaps, the romney camp is not conceding it yet. the two candidates with the raw vote totals now, about 75% of the raw votes in, separated by about 30,000 votes. that's not enough when you start figuring in the provisional ballots. remember we talked about 200,000 provisional votes that -- provisional votes likely to be counted. they start count of that in ten days. here's the thing the obama
obama won. now, you're going to have to reconcile that in order to get anything done. >> we've got to go to ohio because, you know, here we are hearing that the romney campaign is contesting this. this win out of ohio. >> not conceding. >> not conceding, not conceding, pardon me. let's get to scott cohn, live, i want to get the flavor live on the ground in ohio. scott, what can you tell us? >> reporter: first of all when ohio is the state that put romney over the top as...
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Nov 7, 2012
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president obama did nine rallies. governor romney held ten rallies, spent $131 million just in television ad campaigns. so again, this state running very close right now. this is going to take a couple more hours. back to you. >> as you point out, diana, the new virginia is different from the old virginia. nbc news, let's recap right now, has projected that mitt romney is the winner in the state of indiana. and there you see 11 electoral votes in the romney column. nbc news also projecting mitt romney the winner in the state of kentucky with 8 electoral votes based on 5% of the polling data in. president obama is the projected winner in vermont as expected. that is 3 electoral votes. >> we still have too early to call in georgia according to nbc news, that is the same case in south carolina, too early to call, and in virginia, it is too close to call according to nbc news. so again, we are waiting on virginia and you mentioned a great point because virginia has been obama territory for so long. >> it was in the last e
president obama did nine rallies. governor romney held ten rallies, spent $131 million just in television ad campaigns. so again, this state running very close right now. this is going to take a couple more hours. back to you. >> as you point out, diana, the new virginia is different from the old virginia. nbc news, let's recap right now, has projected that mitt romney is the winner in the state of indiana. and there you see 11 electoral votes in the romney column. nbc news also...
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Nov 6, 2012
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obama. >> i saw some obamas. >> thank you. 7:00. you and carl will be getting us through until we know who won. >>> when we come back the election and the fiscal cliff, the chairman and ceo of pmc will be joining us with his advice on how to avoid the big plunge. the fiscal cliff can't be allowed to sustain itself. we have now just driven the debt position up in the country. if the fed hadn't been buying all of the securities interest rates would be much higher. the annual deficit would be much higher. i think we can't allow that from the point of view of our children we can't allow the debt to continue. i would hope washington understands that. >> we are going to leave it there. appreciate you coming on this evening. we hope to see you in the morning one of these days soon. >> you hear the music and that could only mean one thing. jim cramer is making his way to the set. i never knew -- i heard the old cramer say cramerica. he will have the sectors on the move. a special edition of "squawk box" after this. ♪ ♪ ♪ [ male announ
obama. >> i saw some obamas. >> thank you. 7:00. you and carl will be getting us through until we know who won. >>> when we come back the election and the fiscal cliff, the chairman and ceo of pmc will be joining us with his advice on how to avoid the big plunge. the fiscal cliff can't be allowed to sustain itself. we have now just driven the debt position up in the country. if the fed hadn't been buying all of the securities interest rates would be much higher. the annual...
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Nov 16, 2012
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president obama brought the bipartisan leaders together. he spoke from a position of confidence having just won the election but he said we need to find common ground and when the bipartisan leadership walked out of the white house and addressed reporters in the driveway, positive notes were all they were singing. here's a montage. >> the framework that i've outlined in our meeting today is consistent with the president's call for a fair and balanced approach. >> i feel very good about what we were able to talk about in there. >> we're prepared to put revenue on the table, provided we fix the real problem. >> i feel confident that a solution may be in sight. are. >> reporter: this is just the beginning but harry reid said they're not going to wait until december 31st and go right up against the deadline so that's a positive sign. i've got to tell you, senator kent conrad, retiring chairman of the budget committee, offered in a conversation with carl quintanilla and i on "squawk on the street" a potential construct for a tax compromise, that
president obama brought the bipartisan leaders together. he spoke from a position of confidence having just won the election but he said we need to find common ground and when the bipartisan leadership walked out of the white house and addressed reporters in the driveway, positive notes were all they were singing. here's a montage. >> the framework that i've outlined in our meeting today is consistent with the president's call for a fair and balanced approach. >> i feel very good...
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Nov 28, 2012
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just over $287,000. 33% to president obama for just over $143,000. now we've got a similar breakdown when you look at contributions to political candidates. 68%, just over $1.4 million to gop candidates. 32%, $690,000 to democrats. now costco, of course, making market moving news today announcing a $7 per share special dividend to be paid before the end of the year. if we go over the fiscal cliff at the end of the year, that tax rate on dividend goes from 15% to just over 43%. i think it is safe to say that there is bipartisan support among investors and shareholders for those special dividends now and not seeing that dividend tax rate skyrocket after the end of the year. >> it does seem to make sense. hampton pearson, thank you very much. >>> now, let's get back to our recovery road trip to atlanta where we find you once again, brian. >> thanks, mandy. in fact, the ceo of the company we're going to speak with right now just raised their dividend a couple of weeks ago by 50%. that is null rewell rubbermaid, of the five best performing in the atlanta
just over $287,000. 33% to president obama for just over $143,000. now we've got a similar breakdown when you look at contributions to political candidates. 68%, just over $1.4 million to gop candidates. 32%, $690,000 to democrats. now costco, of course, making market moving news today announcing a $7 per share special dividend to be paid before the end of the year. if we go over the fiscal cliff at the end of the year, that tax rate on dividend goes from 15% to just over 43%. i think it is...
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Nov 7, 2012
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obama care is here to stay. barbara ryan is founder of barbara ryan advisers and former senior pharmaceutical analyst at deutsche bank. welcome to the program. >> good to be here. >> we've had two near death experiences for obama care. the supreme court decision and then the election and now people will see of course just beyond what it means for youngsters staying on their parents' health care plans. with he get the full rollout in 2014. mandatory health care for everybody. you are a pharmaceutical analyst but more broadly, what does it mean for the industry would you say? >> break it into two parts. services is where implementation of obama care is going to have its most significant effects. the fact that it looks like it's here to stay given the elections last night and obviously the supreme court decision, we see therefore the greatest volatility in the hmos negatively affected over time and hospitals which would be favorably impacted. we see impact on those stocks today. on the product side, i think the imp
obama care is here to stay. barbara ryan is founder of barbara ryan advisers and former senior pharmaceutical analyst at deutsche bank. welcome to the program. >> good to be here. >> we've had two near death experiences for obama care. the supreme court decision and then the election and now people will see of course just beyond what it means for youngsters staying on their parents' health care plans. with he get the full rollout in 2014. mandatory health care for everybody. you are...
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Nov 15, 2012
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they're at least going up to 18.3% with the obama care taxes. so investors -- percentage wise those are big increases. >> they are, absolutely. >> investors and money managers are noting that. all of us at this conference are dealing with our year-end shareholder dristributions and cap gains right now. it is a topic on many of our minds, as well as our clients. >> it is a divide between the fiscal cliff and what to do with your dividend stocks, how you allocate your capital gains. i mean that's not an easy situation. i just wonder how much of a resolution is already baked in to the market and that's why we've been seeing the volatility, or whether or not there's -- the market is really tossing up its hands and saying we really don't know. a lot of it also i think depends on the economy. so let's take a quick pause here because mr. bernanke, the embargo's lifting on mr. bernanke's comments on housing, which of course will be breaking news because it is an integral part of the economy. the fed chief is speaking. the embargo's lifted. steve leisman
they're at least going up to 18.3% with the obama care taxes. so investors -- percentage wise those are big increases. >> they are, absolutely. >> investors and money managers are noting that. all of us at this conference are dealing with our year-end shareholder dristributions and cap gains right now. it is a topic on many of our minds, as well as our clients. >> it is a divide between the fiscal cliff and what to do with your dividend stocks, how you allocate your capital...
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Nov 6, 2012
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, and i didn't come on here just to promote obama versus romney, i think obama has put in obama care affordable care act, i think there are many features that protect small businesses, if you're under 50 employees, you're under 25 employees, you really are pretty much removed from all of the problems. >> that might make you want to keep it at 49 employees. might make you hesitant to go above that and add jobs if it means you're now all of a sudden -- >> one of the advantages, i was talking to our companies yesterday, one of the best parts is he hires a lot of young people and now all the people who are under 25 that he's hired, of which most of them are, are all staying with their parents. >> so you see people, just on a couple days ago, companies that used to do full time are now going to part-time because they don't want to do health care for full time so they switch the business model to favor part-time. >> you know, honestly, i would say that may be true for a lot of the larger companies. i see so many small businesses, i was out in california yesterday, i must have met in four d
, and i didn't come on here just to promote obama versus romney, i think obama has put in obama care affordable care act, i think there are many features that protect small businesses, if you're under 50 employees, you're under 25 employees, you really are pretty much removed from all of the problems. >> that might make you want to keep it at 49 employees. might make you hesitant to go above that and add jobs if it means you're now all of a sudden -- >> one of the advantages, i was...
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Nov 6, 2012
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look at president obama. he has a one percentage point decline in unemployment rate in 12 months prior and we don't know what will happen. if you just get question marks in, we wait to see what margin plus or minus of his victory. we did a poll and asked people who are unemployed how are you going to vote in the election. let's look at the overall vote which comes from nbc/"wall street journal." likely voters, a split electorate. you would think unemployed would break in favor of the challenger. doesn't happen. 48-48 among those who have been unemployed in the last four years or someone in the household has been unemployed. if only someone in the household, they break 51-48. if he are unemployed they break by five percentage points in favor of obama. that's the national level. what about the state level? again, it's a confused picture. first you look at this map. darker is worse for unemployment. what's dark? new york is dark. in higher third of unemployment. what else is dark? california is dark. these are s
look at president obama. he has a one percentage point decline in unemployment rate in 12 months prior and we don't know what will happen. if you just get question marks in, we wait to see what margin plus or minus of his victory. we did a poll and asked people who are unemployed how are you going to vote in the election. let's look at the overall vote which comes from nbc/"wall street journal." likely voters, a split electorate. you would think unemployed would break in favor of the...
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Nov 5, 2012
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you think obama is going to win. explain. >> i know i have disagreements here. >> there's a lot going on in there. do you even have room in there to pick electoral votes of states. >> i have room to talk about the greatest rookie ever in my fantasy league. total vacuum. i feel all of the -- this is my rap. i say swing states all go for obama and that the horse race is made up of people who are not necessarily polled correctly and i think these states are obama states. i'm just saying if it's a swing state, it goes to obama. >> others would say independents skew toward the challenger. some polls may not reflect enthusiasm. >> so happy when we're no lodngr talking about this. god. sorry. >> i'll talk storm then. >> let's talk about netflix poison pill they just put in. that's big. >> that's a great story. >> of course they got that saying we're going to protect shareholders. make sure everybody is okay. >> you can't firebomb that. i'm willing to firebomb the election as a way to -- i really do believe that the swing st
you think obama is going to win. explain. >> i know i have disagreements here. >> there's a lot going on in there. do you even have room in there to pick electoral votes of states. >> i have room to talk about the greatest rookie ever in my fantasy league. total vacuum. i feel all of the -- this is my rap. i say swing states all go for obama and that the horse race is made up of people who are not necessarily polled correctly and i think these states are obama states. i'm just...
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Nov 2, 2012
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the obama administration said the following, obama for america -- let's go to the bank of america statement first. bank of america, we don't discuss client details but this loan has been disclosed as required by federal election commission rules and it is a standard commercial loan at a market competitive rate. that's what they say. i cannot prove that, carl, that it is market competitive rates. obama for america issued the following statement in regards to this loan. the loan was reported in mid-october in our fec chris closure and was covered by the press. it is a line of credit established by the campaign to ensure cash flow flexibility. we have not drawn on it. now, in addition to the obama campaign, mitt romney borrowed some money. he didn't go to the bank of america. went to the bank of georgetown, and he took out a loan of $20 million, the rate even more attractive, 0.045%. that was a loan taken out august 22nd, payable in 2013. there are some differences here because, again, bank of america, a public bank showned by the shareholders, did receive a bailout. a lot of people wonder whe
the obama administration said the following, obama for america -- let's go to the bank of america statement first. bank of america, we don't discuss client details but this loan has been disclosed as required by federal election commission rules and it is a standard commercial loan at a market competitive rate. that's what they say. i cannot prove that, carl, that it is market competitive rates. obama for america issued the following statement in regards to this loan. the loan was reported in...
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Nov 9, 2012
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president obama. the bottom of the hour more from steve on the candidates to head the treasury department after geithner steps down. as we head to a break look at u.s. equity futures ticking lower in the last few minutes. i don't like to bring you that news but we'll keep you updated. >> part of it is comments out of greece. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only co
president obama. the bottom of the hour more from steve on the candidates to head the treasury department after geithner steps down. as we head to a break look at u.s. equity futures ticking lower in the last few minutes. i don't like to bring you that news but we'll keep you updated. >> part of it is comments out of greece. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he...
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Nov 2, 2012
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we'll look at the obama jobs record in a second. let's focus on the october report. 125 is the number expected, 7.9%, a tick up in the unemployment rate, not giving back the gains. >> the 7.9 that would be the round trip, that would be january 20th. >> the number whenby ma took office. >> i thought it was 7.9. it went below? >> 7.9. >> so 7.9. >> it went up and down. i have the obama jobs record for democrats, republicans and economists, and you'll have a lot to say. >> no, i won't have anything to say. i'm saying it would be weird the symmetry of 46 months above and to end on where the day you took office. >> the consensus for this morning is taking a lot of cross currents in the data, with the business side of the data suggesting a weak employment report but consumers acting and talking like jobs are plentiful. capital spending influences my thinking about this morning's number, regional fed surveys down and layoff announcements up just a bit. jobless cuts consistent with the 125 to 150. conference boards gauge of jobs plentiful o
we'll look at the obama jobs record in a second. let's focus on the october report. 125 is the number expected, 7.9%, a tick up in the unemployment rate, not giving back the gains. >> the 7.9 that would be the round trip, that would be january 20th. >> the number whenby ma took office. >> i thought it was 7.9. it went below? >> 7.9. >> so 7.9. >> it went up and down. i have the obama jobs record for democrats, republicans and economists, and you'll have a lot...
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Nov 14, 2012
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later, yesterday he sat down with president obama and other labor leaders. today he sits down with national education association dennis van roekel joins us to talk about the cliff. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] dayquil doesn't treat that. huh? [ male announcer ] alka-seltzer plus rushes relief to all your worst cold symptoms, plus it relieves your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! he's, he's on my back about providing for his little girl. hey don't worry. e-trade's got a killer investing dashboard. everything is on one page. i'm watching you. oh yeah? well i'm watching you, watching him. [ male announcer ] try the e-trade 360 investing dashboard. f we go over the fiscal cliff, how could it affected taxes for everyone? the answer is different groups will be affected very differently. steve liesman has more on the numbers. >> what we do know is if we go over the cliff, no change in what is mandated by those rules. everybody will pay more. we've divide
later, yesterday he sat down with president obama and other labor leaders. today he sits down with national education association dennis van roekel joins us to talk about the cliff. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] dayquil doesn't treat that. huh? [ male announcer ] alka-seltzer plus rushes relief to all your worst cold symptoms, plus it relieves your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth!...
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Nov 14, 2012
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the fiscal cliff, about a dozen ceos are scheduled to meet with president obama. ken shenalt of american express. among the corporate leaders, lloyd blankfein, in an op-ed, the goldman sachs ceo says the obama administration should model itself after the roosevelt administration, back to the great depression and world war ii. blankfein notes in the 19 there was, quote, extreme bitterness between the business community and the roosevelt administration, but two sides worked together and spurred an increase in industrial production that lifted the united states out of the great depression. blankfein also writes there's more than $1 trillion of cash sitting on the balance sheets of non-u.s. financial companies with certainty about tax rates, companies will increase their capital expenditures, currently at anemic levels. he goes on to add that broadening the personal income tax base by closing loopholes will generate substantial additional revenue while minimizing increases in marginal rates that could stifle risk taking and robust growth. blankfein also stresses the i
the fiscal cliff, about a dozen ceos are scheduled to meet with president obama. ken shenalt of american express. among the corporate leaders, lloyd blankfein, in an op-ed, the goldman sachs ceo says the obama administration should model itself after the roosevelt administration, back to the great depression and world war ii. blankfein notes in the 19 there was, quote, extreme bitterness between the business community and the roosevelt administration, but two sides worked together and spurred...
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Nov 8, 2012
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i think that obama, whether you like him or not, obama said you raise revenue. have a talk. boehner did mention raising revenues but does he have people in the tea party wing this agrees with him? i don't know. what do you think? >> i don't know. i mean, in the meantime, speaking of sort of regulatory issues, jp morgan today with the capital plan they say is regulators say is okay. >> yeah. >> 3 billion buy back in the quarter. next quarter. >> checked with them. that's the stock that came down because romney lost and very hard to relate on the loss versus dividend increase and buy back but i think the overreaction in the banks was considerable yesterday. i look for them to stabilize. >> brings to mind an upgrade today. >> an upgrade of isi and they expect increased dividends and buybacks and every time they buy back shares, the intangible book value goes up. and bank of america was one of those stocks hit very, very hard within the financial sector in yesterday's selloff. down 7%. that was the steep decline. this call this morning, very bullish. $18 a share by 2015. >> i kn
i think that obama, whether you like him or not, obama said you raise revenue. have a talk. boehner did mention raising revenues but does he have people in the tea party wing this agrees with him? i don't know. what do you think? >> i don't know. i mean, in the meantime, speaking of sort of regulatory issues, jp morgan today with the capital plan they say is regulators say is okay. >> yeah. >> 3 billion buy back in the quarter. next quarter. >> checked with them. that's...
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Nov 7, 2012
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what is obama willing -- what is obama willing to do on entitlement reform? >> i agree. >> is he -- >> he can't either probably. >> and can he deliver the house democrats. because you can't pass it just with the republican votes. >> everybody going to find religion if we do go over this fiscal cliff? >> if the president is willing to -- and i think he will be willing to find more savings in entitlements, particularly in health care, i think -- i think the house democrats will go -- >> i think it's very difficult to do that in a six-week period punctuated by thanksgiving and christmas. >> we have, i think, 34 days, working days and i don't believe congress is in session for all of those days. >> right. they are not. >> the president has the power to convene. lock them in a room, get an mou done. >> it shows leadership, which so far the president has not been willing to do in the first four years on deficit reduction. he has not brought people together. >> come on, kenny, he sat with boehner for three months -- >> and walked away. >> he didn't walk away from it
what is obama willing -- what is obama willing to do on entitlement reform? >> i agree. >> is he -- >> he can't either probably. >> and can he deliver the house democrats. because you can't pass it just with the republican votes. >> everybody going to find religion if we do go over this fiscal cliff? >> if the president is willing to -- and i think he will be willing to find more savings in entitlements, particularly in health care, i think -- i think the...
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Nov 29, 2012
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. >> that even goes to obama's terminology yesterday. he talked about presenting a framework by chris mall. framework, all that means is, listen, we've got to plan, we can modify it, tweak it -- the market will not want that. >> the market will move very quickly if they perceive it is not substance. remember it's two parts -- soon and substance. >> thank you very much. >>> to the nasdaq right now, bertha coombs is there following the big movers. >> over the last couple of days the nasdaq has managed to move into positive territory for the month of november, back above 3,000. today one of the biggest movers is research in motion getting an upgrade at goldman sachs. one of the firms that sees them perhaps getting some traction with the blackberry 10 rollout in 2013. apple up today as well, up more than 1%. look what's happened this month. nasdaq composite has moved up without the help of apple. apple on track for the third straight monthly loss. what's really made the difference here? games. cisco, some of the big caps like cisco, gilead,
. >> that even goes to obama's terminology yesterday. he talked about presenting a framework by chris mall. framework, all that means is, listen, we've got to plan, we can modify it, tweak it -- the market will not want that. >> the market will move very quickly if they perceive it is not substance. remember it's two parts -- soon and substance. >> thank you very much. >>> to the nasdaq right now, bertha coombs is there following the big movers. >> over the last...
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Nov 28, 2012
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the third aspect is the obama care taxes that are coming. there's a 3.8% increase on capital gains, on dividends, interest income for people making 200,000 or more. that's already coming. that's baked in the cake. what the president wants is an additional tax increase rate increase on the same group of people he's already put a rate increase on in january. we're pushing back saying they are taking a hit in january based on the obama care taxes. why talk about a double tax rate increase? second thing to remember in 2007 we spent a trillion dollars less than we spent this year. the revenue is almost identical. 2007 to this year. the issue is not can we raise more taxes. the issue is we increased spending a trillion dollars and our simple push is to say why don't we look at spending? that's the major issue. we can't keep raising taxes and saying we'll just keep raising taxes as long as we raise spending. we're overspending. everyone is looking at congressional republicans saying what are you going to do on tax? no one is looking at democrats sa
the third aspect is the obama care taxes that are coming. there's a 3.8% increase on capital gains, on dividends, interest income for people making 200,000 or more. that's already coming. that's baked in the cake. what the president wants is an additional tax increase rate increase on the same group of people he's already put a rate increase on in january. we're pushing back saying they are taking a hit in january based on the obama care taxes. why talk about a double tax rate increase? second...
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Nov 19, 2012
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so i think a first thing to look at is actually president obama's budget. president obama's budget actually does have specific way to get to additional $1.6 trillion in revenue, people may not like it. we can have a debate around it but it goes line by line as you can get an additional $1.6 trillion in revenue. when it comes to entitlements it has an additional $300 billion in savings. health care it goes line by line. in the next several weeks my guess is we're not going to agree to all those lines. my hope is they agree to overall targets when it comes to entitlements and revenue, they may lay out a number of the ways that you'd end up reaching those targets and several months after that, that actually write the legislation. i think the danger is that when it comes to the discretionary budget, 40% of the budget that's annually appropriate, where you decide how to allocate resources annually, what they decide to do is they end up reducing that category three or five years out. they realize they don't have to make the hard decisions for three to five years
so i think a first thing to look at is actually president obama's budget. president obama's budget actually does have specific way to get to additional $1.6 trillion in revenue, people may not like it. we can have a debate around it but it goes line by line as you can get an additional $1.6 trillion in revenue. when it comes to entitlements it has an additional $300 billion in savings. health care it goes line by line. in the next several weeks my guess is we're not going to agree to all those...
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Nov 16, 2012
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today barack obama is officially kicking off budget negotiations. at issue is a one-two punch. we have expiring bush era tax cuts and across the board spending cuts both set to hit in january. simpson and bowles with a warning to washington about what's at stake. >> if we get over on the cliff, we don't have a deal, and the market doesn't anticipate that we're actually going to be so stupid as to go over the cliff, then i think you'll see the market really crash and i think you'll see the rating agencies downgrade our credit again, you'll see fitch and moody's join s&p. i think you'll see corporations lose confidence. you'll see them slow down hiring, stop capital xebd churs, capital will go on on strike, it will be a hell of a mess. >> leaders of both parties think it would be to their advantage to go off the fiscal cliff. what a 12 straight that is, that we could win more as democrats if we let it go or we can win more as republicans. this whole game isn't about america, it's about you who do we make the demss lose and how do we make the republicans lose. people are sick of t
today barack obama is officially kicking off budget negotiations. at issue is a one-two punch. we have expiring bush era tax cuts and across the board spending cuts both set to hit in january. simpson and bowles with a warning to washington about what's at stake. >> if we get over on the cliff, we don't have a deal, and the market doesn't anticipate that we're actually going to be so stupid as to go over the cliff, then i think you'll see the market really crash and i think you'll see the...
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Nov 13, 2012
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she's meeting with president obama on this topic tomorrow and was recently elected to exxon's board. she'll be joining you live at 7:00 eastern. joe, i believe you have breaking earnings numbers. >> home depot 63 cents, a nonrecurring item in there of 11 cents a share. due to the previously announced closing of seven stores in china. on an adjusted basis, the company reported earnings of $1.1 billion or 74 crepts a share, 23% above the same period last year and 4 cents above expectations of 70 cents. third quarter results were better than we expected and reflected in part what we believe is the start of a path towards the healing of the housing market according to frank bica who we hopefully have a picture of in his full regale i can't, full orange home depot apron. because he's an endearing looking guy who you would trust him at your house. there he is. i love him. >> he does have his apron on. >> and i want to thank all of our associates, and there is also as i go through the press release here, based on the third quarter, we're updating our fiscal 2012 guidance and raising our sal
she's meeting with president obama on this topic tomorrow and was recently elected to exxon's board. she'll be joining you live at 7:00 eastern. joe, i believe you have breaking earnings numbers. >> home depot 63 cents, a nonrecurring item in there of 11 cents a share. due to the previously announced closing of seven stores in china. on an adjusted basis, the company reported earnings of $1.1 billion or 74 crepts a share, 23% above the same period last year and 4 cents above expectations...
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Nov 15, 2012
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the next four years as it relates to the obama administration is not positive for stocks. they don't want to say it. they don't want to write it. but you can find it everywhere. the evidence is mounting all over the street that the last two weeks there is a massive outside allocation shift as a result of it. this is what i want to say. i find it very disturbing when people walk into this building, come on air, talk about the portfolios. if you're a loan only manager you have to try to find stocks that are working but, remember, there's nothing wrong with holding cash or saying it like you think it is. i want to point something out here. this is the wellington letter. he writes he's been doing this for 35 years. this is what he said in the edition that came out yesterday. bat ten down the hatches. protect your assets, your business, your job. this is no longer a theoretical exercise. i want to tell you, carl, i find it disgusting that a lot of people are saying that to their clients and they're saying that across the board but they're not putting it in print. if you're sayi
the next four years as it relates to the obama administration is not positive for stocks. they don't want to say it. they don't want to write it. but you can find it everywhere. the evidence is mounting all over the street that the last two weeks there is a massive outside allocation shift as a result of it. this is what i want to say. i find it very disturbing when people walk into this building, come on air, talk about the portfolios. if you're a loan only manager you have to try to find...
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Nov 13, 2012
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obama meeting labor leaders today. eamon javers has more live from washington. >> we're about one hour away from the labor leaders and progressive group leaders meeting with the president on the issue of the fiscal cliff. they'll talk a lot about what to do on entitlement spending here. that's one of the areas where a likely deal would involve cuts. i've been talking to leading labor leaders in washington here this morning. they tell me what they're going to tell the president an hour from now. we're not in favor of benefit cuts on social insurance programs. they're also going to tell the president that he needs to stand firm on the bush tax cuts and they say they'll back him 100% if he does that. they feel, the labor leaders do, this election was about something and obama won. therefore he has a strong hand and they also say that government needs to drive a harder bargain with health care providers to bring down costs including things like negotiating prices on medicare part d drugs with the drug companies in order to
obama meeting labor leaders today. eamon javers has more live from washington. >> we're about one hour away from the labor leaders and progressive group leaders meeting with the president on the issue of the fiscal cliff. they'll talk a lot about what to do on entitlement spending here. that's one of the areas where a likely deal would involve cuts. i've been talking to leading labor leaders in washington here this morning. they tell me what they're going to tell the president an hour...
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Nov 21, 2012
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and previous obama -- the republicans lost their fiscal prudent way. that was part of the problem. but expenses are going to get cut. it's going to be from both sides. no matter what we do, unless we kick the can for six months, it's going to lead to a mild recession. i don't care how you slice it. raising taxes and cutting spending, austerity or revenue increases is not good for the economy in the short term. >> in the long term, that's what we're banking on, that growth someday gets back to 3% or 4%. >> joe, you gave me a great segue here. i'm holding up the speech. it's the ten-year anniversary of the so called bernanke helicopter speech to the day, november 21st, 2002. here it is. and he talks about the fiscal policy -- because i was reading it last night, just to go back. it's amazing what it says in there. really referring to friedman's helicopter drop. but he'll be there. and he told them yesterday, we're not the only game in town now. it's time for the congress to step up. >> speaking of a man who knows another thing or two about chopper, andrew ross s supervisor -- sorkin.
and previous obama -- the republicans lost their fiscal prudent way. that was part of the problem. but expenses are going to get cut. it's going to be from both sides. no matter what we do, unless we kick the can for six months, it's going to lead to a mild recession. i don't care how you slice it. raising taxes and cutting spending, austerity or revenue increases is not good for the economy in the short term. >> in the long term, that's what we're banking on, that growth someday gets...
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Nov 29, 2012
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obama/boehner comments about a possible agreement. geithner with congressional leaders would set up any kind of good news for a euro to push through that 1.30 level. >> what are your levels? >> i like to go long. actually, i just bought euro literally in my hand held before i sat down at 1.29.70. you want to look for a push through that november triple top high over 1.30. we could target the 1.30, 1.40, the high from october. traditionally in the technical analysis world we have a triple top setting up. those do not hold. i like the trade up towards a test of that october high. >> i'm surprised you don't think the yen is a better trade at the moment. there's a lot of chatter everywhere else about it. >> it's a great point, simon. you know, the boj is doing everything they can to end their 13, 15-year deflationary cycle. my thought on that is you don't get hit by the train you see coming. i feel like the market is so focused on the short yen trade, i think it could work in the short term. you could pair a euro long like i'm talking abo
obama/boehner comments about a possible agreement. geithner with congressional leaders would set up any kind of good news for a euro to push through that 1.30 level. >> what are your levels? >> i like to go long. actually, i just bought euro literally in my hand held before i sat down at 1.29.70. you want to look for a push through that november triple top high over 1.30. we could target the 1.30, 1.40, the high from october. traditionally in the technical analysis world we have a...
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Nov 30, 2012
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. >> president obama is meeting with high profile chief executive officers today to talk about country's fiscal issues. >> we're here to support doing the right thing and putting america back to work. >> we don't legislate but we know the consequences of a failure to reach an agreement. >> only way democracy works is through compromise at the end of the day. >> i'm optimistic we'll continue to work together. >> our ultimate goal is an agreement that gets long-term deficit under control in a way that is fair and balanced. >> stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we have said it. we've said it. we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to a congressional republican aides who have talked to "the wall street journal," they obtained a copy of the white house prover here in the ne
. >> president obama is meeting with high profile chief executive officers today to talk about country's fiscal issues. >> we're here to support doing the right thing and putting america back to work. >> we don't legislate but we know the consequences of a failure to reach an agreement. >> only way democracy works is through compromise at the end of the day. >> i'm optimistic we'll continue to work together. >> our ultimate goal is an agreement that gets...
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Nov 9, 2012
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he's been president obama's trusted economic adviser for four years now. my information that geithner will stay through fiscal cliff and unlikely until a successor is well along the way. that means he could leave as early as january if congress confirms replacement quickly or all the way to the inauguration. what is the next treasury secretary's resume look like? i put together some ideas. first thing is, maybe the most important thing for right now, is that he's an expert in government finance and tax reform because the fiscal cliff is the first thing on the issue. has to work well with others, especially the gop. geithner's got pretty good marks in that. he has to be skilled at reaching out to the business community, given the problems president obama has had. he or she has to have experience in international financial diplomacy. zoom in on this here. the fmm, financial meltdown manager. who is the guy you want in the seat if we have another financial crisis? much depends on who's chosen to succeed geithner. is it an inside pick, which would mean someone
he's been president obama's trusted economic adviser for four years now. my information that geithner will stay through fiscal cliff and unlikely until a successor is well along the way. that means he could leave as early as january if congress confirms replacement quickly or all the way to the inauguration. what is the next treasury secretary's resume look like? i put together some ideas. first thing is, maybe the most important thing for right now, is that he's an expert in government finance...
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Nov 19, 2012
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did you see over the weekend president obama was in bangkok confident a deal could be made. geithner sounded confident a deal could be made. it's funny. a number of guys this weekend mentioned to me the signs to buy would not come from congress. it's going to come from the irs. a number of guys have been mentioning it's likely the deal looks possible or even very likely. the irs will issue a directive to everybody essentially telling everybody not to change withholding rates if we look like we have a deal. that's exempting the top 2% of course. when you get that even if you don't have a deal, that's a detectivi directive that the thing will happen there. keep your book light. a lot of guys play different books. 60% long, 40% short. a lot of guys a good part of their books are now in the cash side right now. the important thing is looking at some of these hedge fund returns, most returns are up 4%, 5%, 6%. somewhere around there. the s&p is up 8%. most of them are still under performing on the year. you mentioned the impact on sandy and manufacturing. this certainly makes sen
did you see over the weekend president obama was in bangkok confident a deal could be made. geithner sounded confident a deal could be made. it's funny. a number of guys this weekend mentioned to me the signs to buy would not come from congress. it's going to come from the irs. a number of guys have been mentioning it's likely the deal looks possible or even very likely. the irs will issue a directive to everybody essentially telling everybody not to change withholding rates if we look like we...